If you're one of these people and you rely on paper-bound and manual documentation, you're wasting time and increasing the likelihood of errors in the documents.
You are also spending more money when you compare the manual documentation to the online electronic signature form offered by IRS. It is a frustrating situation for your customers, employees, and yourself.
We will now discuss the types of problems you might face when using paper-based tax procedures here.
Clients expect more!
The majority of clients love mobile apps and are tech-savvy. Research shows that 83% of tax accountants believe their clients are more sophisticated today than they were five years ago.
They expect their tax returns to be filed in a timely manner. They don't want to waste time filing tax returns in paper form.
Value-based billing encourages clients to pay flat fees for their services because they feel it is the best way to bill.
To meet the needs of clients, accountants will need an electronic signature app.
Privacy and security
Client information must be kept confidential and protected against fraud and forgery. It can be risky to send tax forms via email, fax, and courier.
To avoid fraud, scam, or forgery, experts in accounting recommend that you use a digital signature. This can help you to be more secure through multiple authentication and identification techniques.
Timelines
Clients are most concerned about the turnaround time. To minimize turnaround time, clients must be precise about their expectations.
A realistic turnaround time is crucial in this whole process. Contract administration
Electronic signature apps allow you to sign documents more authentically and in a shorter time. Electronic signature apps are able to omit errors and improve security, as well as simplify complicated forms.
Contract Management
Electronic signatures are a great way to streamline the process of a business agreeing on terms and conditions for providing services to clients.
You can view the entire process of signing and sending the agreement electronically. This is faster than traditional paper-bound documentation. It is important to understand that engagement letters are one of the best ways to change the workflow of accountants.
This is also a way to make the contract legally binding.
The benefits of an electronic signature
SEC and IRS have accepted digital signatures already and allow all businesses to adopt them. This technology has been adopted by some of the most prominent accounting firms to enhance the submission and reporting process while submitting tax returns.
These are some of the benefits that we have discussed in our discussion about key benefits.
- Your business can be more productive.
- All legally binding client engagements and agreements can be simplified.
- The digital signature plays a crucial role in removing manual processing and paper-bound documentation.
- You can reduce the turnaround time to file a tax return.
- All business operations are susceptible to risks.
- You can increase client engagement by automating and tracking compliance. Clients can also monitor the entire process of filing tax returns.
- An e-signature app can be used to increase the efficiency and effectiveness of the administration staff.
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